Thai Crypto Exchange Bitkub May Be Valued as High as $3B in IPO: CEO

The owner of Thai crypto mart Bitkub Electronic, which methodologies to sell shares to the public next off year, can be valued as high as $3 billion, Bitkub Capital Group CEO Jirayut Srupsrisopa claimed.

Bitkub Capital signaled its motive to sell shares to the public in a 2023 letter to sponsors that didn’t impart a timeframe. Jirayut told Bloomberg earlier this month that an IPO was intended for next off year and the solution utility provider was in the protocol of hiring economic advisors.

Thailand’s best crypto mart supplies around 80% of the Bangkok-based moms and daddy’s salaries and is 9.2% had by Asphere Innovations. The company was valued at around 6 billion baht ($165 million) in a Play sully A fundraising last July, Jirayut claimed.

“A price to salaries ratio of 10-30 would not surprisingly sported our valuation in between 1 billion – 3 billion US dollars,” Jirayut claimed in a blog post on LinkedIn once queried around an IPO valuation. He did not say how much the solution utility provider was gazing to raise.